XRP sheds $700 million in futures bets while XRPL publishes a $4 billion institutional pipeline
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Demand for XRP is weakening across several key market indicators, testing whether the XRP Ledger’s (XRPL) growing institutional pipeline can translate into sustained investor and network activity.
Key facts
The decline was most evident on Binance, where open interest fell from over $500 million in mid-June to $399 million by July 10, according to CryptoQuant data
Global open interest in XRP futures fell from nearly $3 billion in June to about $2.3 billion by mid-July, according to CoinGlass
US spot XRP exchange-traded funds recorded about $7.2 million in net outflows in the week ended July 10, according to SoSoValue
XRP is -2.75% over the past 24 hours and currently sits at rank # 6 by market cap
Summary
01 XRP demand is weakening as spot ETF outflows return, futures open interest falls, and new wallet creation slows. 02 The pullback matters because XRP has slipped about 5% in a week while XRPL’s institutional pipeline keeps expanding. 03 A privacy proposal could help institutions use XRPL, but current activity remains concentrated and below longer-term averages. US spot XRP exchange-traded funds recorded about $7.2 million in net outflows in the week ended July 10, according to SoSoValue.